Markets ended in red zone
Vidrum / 21 Oct 2011
Post-closing commentary 21th October 2011
The Indian Markets after moving sideways through the day finally ended in the red zone. European markets are trading in green as investors seek more clarity on policy makers on the European debt crisis. Among the sectoral indices Capital Goods, Realty and Metals took the most beatings while Consumer Durables was the only sector to remain positive for the day.
| Benchmark Indices | ||
| Index | Closing | % Change |
| SENSEX | 16785.64 | -0.89 |
| NIFTY | 5049.95 | -0.82 |
| Hang Seng | 18025.72 | 0.24 |
| Nikkei | 8678.89 | -0.04 |
| Shanghai | 2317.28 | -0.60 |
| Live | ||
| FTSE | 5417.89 | 0.62 |
| DAX | 5786.67 | 0.35 |
| CAC | 3099.77 | 0.51 |
Asian markets remained flat on speculation that European policy makers will struggle to reach a solution. The Dow Jones Futures is currently trading 22 points or 0.19 per cent up at 11494 indicating a positive sentiment in the US markets.
| Sectoral Indices | |||
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 6,111.87 | -41.65 | -0.68 |
| SMLCAP | 6,825.10 | -41.17 | -0.60 |
| BSE-100 | 8,743.89 | -79.05 | -0.90 |
| BSE-200 | 2,054.02 | -18.08 | -0.87 |
| BSE-500 | 6,461.12 | -54.56 | -0.84 |
| Sectors | |||
| CD | 6,705.95 | 14.92 | 0.22 |
| AUTO | 8,848.17 | -17.32 | -0.20 |
| HC | 5,928.13 | -16.10 | -0.27 |
| IT | 5,525.64 | -21.86 | -0.39 |
| OIL&GAS | 8,649.77 | -39.89 | -0.46 |
| POWER | 2,108.34 | -10.65 | -0.50 |
| PSU | 7,375.82 | -45.35 | -0.61 |
| BANKEX | 11,094.31 | -74.96 | -0.67 |
| FMCG | 3,966.40 | -29.09 | -0.73 |
| TECk | 3,356.94 | -29.93 | -0.88 |
| METAL | 11,100.19 | -152.78 | -1.36 |
| CG | 10,558.41 | -201.81 | -1.88 |
| REALTY | 1,772.54 | -35.98 | -1.99 |
Among the SENSEX stocks Bajaj Auto and Hero MotoCorp traded higher in the range of 1.20 to 1.50 per cent. Maruti Suzuki was up 1.5 per cent at Rs 1092.30 after the strike at Manesar Plant ended. Other stocks like BHEL, SBI and TCS were also among the Index gainers. Metal stocks like Hindalco, Jindal Steel and Tata Steel were down in the range of 1.60 to 2.6 per cent. DLF, Tata Motors and Bharti Airtel were among the losers list, which were down by more than 2 per cent.
Godrej Consumer Products consolidated Net Profit declined by 2.6 per cent YoY to Rs 127.71 crore as higher tax expense and foreign exchange loss offset strong sales growth of 23.34 per cent. The scrip ended 1.50 per cent down at Rs 403.85
L&T shares slipped by 4 per cent to Rs 1330.70 post its Q2FY1 numbers. Companies’ top-line increased by 20 per cent to Rs 11375 crore and bottom line increased by 15 per cent to Rs 798 crore. However, company dropped its EBITDA margins by 34 basis points to 10.44 per cent. Further company expects margin contraction by 75 to 125 basis points from earlier 50 to 75 basis points for FY12.
Shares of Hindustan Construction Company were down by 3 per cent at Rs 26.40 after it reported a net loss of Rs 40.53 crore in Q2FY12 versus a profit of Rs 12.13 crore last year.
We advise our reader to keep track of Companies like Axis bank, Grasim, Suzlon Energy etc are going to post their Q2FY12 numbers tomorrow.
| Advance-Decline Table | |||
| Index | Advances | Declines | Unchanged |
| BSE 30 | 7 | 23 | 0 |
| BSE 100 | 21 | 77 | 2 |
| BSE 200 | 44 | 153 | 3 |
| BSE 500 | 134 | 357 | 9 |
| Others | 978 | 1325 | 117 |
BSE clocked turnover of Rs 2334 crore lower than Rs 2580 crore on 20th October 2011. The market breadth, indicating the overall health of the market, was negative. Out of 3250 stocks traded, 1935 stocks declined while 1184 advanced. A total of 131 stocks remained unchanged.
In conclusion we believe the market will remain volatile for next week ahead of expiry. The key events to watch next week would be meeting of European leaders to tackle the debt crisis and the RBI’s meet on the monetary policy stance.
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